Tata Sons' letter to Cyrus Mistry: 5 things you must know
Tata Sons' on Thursday came out with a long-statement on issue involving Cyrus Mistry's ouster and claims made by him thereafter.
Zee Media Bureau
Mumbai: Tata Sons' on Thursday came out with a long-statement on issue involving Cyrus Mistry's ouster and claims made by him.
Here are 5 main points that the letter highlighted mainly.
1) The letter says that Cyrus Mistry's claims are substantiated and malicious and cast aspersion on the Tata Group. Therefore, these will be responded to in an appropriate manner soon.
2)Tata Sons maintains that Cyrus Mistry was given full autonomy to manage opportunities and challenges. However, the tenure of the former Chairman was marked by repeated departures from the culture and ethos of the group.
3) Mistry has attempted to besmirch the image of the Group in the eyes of the employees, claimed the letter.
4) The letter also informs that Cyrus Mistry's claims are unwarranted and these records will be duly disclosed before appropriate forums, if and when necessary, sufficiently justifying the decision made by responsible Boards of Directors, of Tata Sons and its Group companies.
5)The Interim Chairman in his first interaction with senior leaders has stressed to them the need to continue on focusing on building great businesses while emphasising on delivering strong shareholder returns.